Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Occidental Petroleum (OXY) Trading Near $69.49 Support Level

Dec 06, 2017 (Marketintelligencecenter.com via COMTEX) --

The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center are highlighting two trades on Occidental Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/OXY">OXY</a>) today after it closed at $70 on Dec 5, 2017. For more conservative investors, look at a covered call using the May 18, 2018 $67.50 call for a net debit of about $65.65. This trade will return 2.81% (6.31% annualized, for comparison purposes only) as long as the stock closes above $67.50 at expiration. Occidental PetroleumAcan fall 6.21% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $55 call taking the place of the long stock position and the same short position in the May 18, 2018 $67.50 call. This trade only costs about $11.04 to get into and the rate of return increases to 13.12% (6.31% annualized, for comparison purposes only) but the downside protection falls to 5.64%.

(C) Copyright 2017, Marketintelligencecenter.com. All rights reserved. ********************************************************************** As of Saturday, 12-02-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 574.20
Nat Gas 2.622
Corn 347 4/8
Cotton #2 75.92
Gold 121.9
Copper 3.1395
Euro 1.17500
USD Index 93.463
SP500 E-mini 2683.00
DJIA E-mini 24677
close_icon
open_icon